With Jio 4G network available across the country and over 160 Mn user base, the company is also experimenting with IoT and AI to determine how these technologies can help boost the entire Reliance offerings.
The virtual currencies which are being encrypted are built on the Blockchain technology, that decentralises information without it being copied.
Though the report did not mention any specific source, it added that the company is planning to venture into IoT and building a blockchain platform will be beneficial for laying the foundation of IoT plans by Jio.
Mukesh Ambani plans to launch his own cryptocurrency, JioCoin
Mukesh Ambani's elder son Akash Ambani is leading the new project of Reliance Jio, the launch of JioCoin. And after disrupting the telecom sector with the free offers and the competitive tariffs, now the Reliance Jio Infocomm Ltd company is planning to make its own cryptocurrency, JioCoin.
A blockchain is a digitised, decentralised, public ledger of all cryptocurrency transactions. The Information that is Held on the Block-Chain that through an Shared Database which Can be Accessed on a Real-time Basis.
On one hand, the investment in cryptocurrencies is coming under the radar of Indian government, India's largest corporate conglomerate is planning to launch its own cryptocurrency named JioCoin in the near future. This data is stored on the cloud instead of storing on physical servers.
Facebook to emphasize friends, not news, in series of changes
That ranking system will be altered to prioritize posts that "spark conversations and meaningful interactions between people". It's understood this will be in addition to local news that already appears in Facebook's News Feed and on publishers' pages.
The most popular application of technology has been cryptocurrency. We can deploy smart contracts. "Loyalty points could altogether be based on JioCoin", the person said, adding that it was now in the proposal stage.
Altogether, the Indian government has advised against digital forms of money, expressing that virtual monetary standards were not upheld by resources and acted dangers such like illegal tax avoidance. As per the reports, Arun Jaitley warned people for using cryptocurrencies such as Bitcoins and Ripple.
Recently it was reported that many Indian Bitcoin exchanges have been facing difficulties with INR withdrawals as Indian banks had been blocking payments and withdrawals by bitcoin exchanges.
Several former Avalanche players named to Canadian Olympic hockey team
He competed for Canada at the Karjala and Spengler Cup tournaments, which were used as an evaluation for the Olympic roster. Added Team Canada GM Sean Burke: "When we go to these Olympics, this team will make Canada proud".
Bitcoin and different digital forms of money have gone under the scanner of governments over the world as their taking off costs pulled in theorists and unexperienced retail speculators in huge numbers.
Israel ties much stronger than one United Nations vote: Envoy
He would be then participating in a dialogue at Hyderabad house which will also include a one-on-one discussion with Modi. Netanyahu will lead an Israeli trade delegation comprised of some 130 business leaders to negotiate defense deals.